Short Interest in Glencore PLC (OTCMKTS:GLNCY) Increases By 132.2%

Key Points

• Short interest in Glencore surged 132.2% to 492,362 shares as of Feb. 27 (up from 212,034 on Feb. 12), though the days-to-cover remains low at 0.5 days based on average daily volume of 994,096 shares.
• Analysts hold a consensus rating of Moderate Buy (1 Strong Buy, 5 Buy, 4 Hold) with an average price target of $9.30, which is notably below the recent OTC quote near $14.09.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 492,362 shares, a growth of 132.2% from the February 12th total of 212,034 shares. Based on an average daily volume of 994,096 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 994,096 shares, the days-to-cover ratio is presently 0.5 days.

Glencore Stock Up 1.3%

Shares of OTCMKTS GLNCY opened at $14.09 on Thursday. Glencore has a twelve month low of $5.74 and a twelve month high of $14.67. The business has a fifty day simple moving average of $13.30 and a two-hundred day simple moving average of $10.65. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GLNCY shares. Berenberg Bank upgraded shares of Glencore from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 17th. Morgan Stanley reiterated an "overweight" rating on shares of Glencore in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Glencore in a research report on Friday, January 30th. UBS Group raised Glencore to a "hold" rating in a research report on Monday, February 9th. Finally, HSBC lowered Glencore to a "hold" rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Glencore presently has a consensus rating of "Moderate Buy" and an average price target of $9.30.

Glencore Company Profile

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.

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